"Rise Above The Numbers" by FP&HEY

Want your FP&A and Marketing Teams to combine forces to drive company results?

Seek common ground in your company's financial performance.

Learn how we did just that to improve revenue and profit performance to help you with your FP&A journey.

Show Notes

* 00:20 - Marketing does NOT want to hear “NO, NO, NO" from FP&A

* 01:25 - Marketing is about generating interest

* 03:15 - Driving sales with efficient spend is critical to Marketing success

* 03:50 - Marketing spend starts with purchase orders, know the details 🫵

* 04:55 - Ask WHY a bunch of times to understand Marketing spend

* 06:45 - Customer Lifetime Value (CLTV) helps companies big and small

* 07:55 - Understand your COCA (cost of customer acquisition), yay acronyms

* 09:55 - Favorable marketing spend (aka savings) is not always a good thing

* 11:50 - Take initiative and understand what Marketing does

What Does Marketing Do?

There are a million ways to market your company’s products or services.

Social media, billboards, paid search, newspaper ads…you name it.

Your Marketing Team figures out which marketing channels make sense.

With the primary goal of driving awareness (insanely important).

🔥TIP: Set up a purchase order process to track marketing spend.

Why Does Marketing Matter?

Your company could be the best in the world at what it does.

But what if no one knows your company exists?

HINT: NO SOUP SALES FOR YOU.

That’s why your company MUST be good at marketing.

Make sure you show your Marketing Team the money.

And help them spend it efficiently and effectively (that’s important too).

Things FP&A Can Do To Make Marketing Friends

Building a great relationship takes time and baby steps.

* Learn what Marketing spends money on by diving into their purchase orders

* Sit down with Marketing and ask WHY, let them teach you their ways

* Stand up a CLTV model to help them attract the ideal prospect

🔥TIP: Read this to learn how to do CLTV analysis.

REMEMBER, don’t lead with that word.

Conclusion: Marketing Is In Your Friend Zone

Help Marketing help your company by using your financial (and Excel) skills.

Your Marketing Team will thank you for demystifying their marketing spend.

And for helping your company achieve its goals.

Keep learning and having fun.

Resources

▪️ Follow us on LinkedIn: https://www.linkedin.com/company/fpandhey

▪️ Email us your burning FP&A questions at info [at] fpandhey.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit fpandhey.substack.com